Author Archives: Site Administrator
Choosing the Right Attorney Matters…See Why
When your health, career and you and your family’s financial well-being are on the line, it is crucial that you pick the right attorney. Not one who is a “Johnny come lately” or falsely promises you better results. Rather, what are needed are an attorney and a firm who has a proven track record,… Read More »
Advice for the Apprehensive Injured Worker
By Charles Schultz, Esq. A few times a week I get a call from an injured worker who is considering filing a workers’ compensation claim with the Maryland Workers’ Compensation Commission but is concerned about the repercussions that may take place after filing their claim. While it is understandable, and in certain circumstances a… Read More »
Think Twice About Designating A Disabled Person as a Beneficiary
Despite your good intentions, naming your disabled niece as the beneficiary of your life insurance policy may not do her any good whatsoever. In this final installment in this series, I explain why disabled beneficiaries should be handled with extreme caution. This advice actually applies to all manner of property given to a disabled… Read More »
Should I Use an Online Legal Document Service to do my Will?
The question I get about online Wills (or do-it-yourself kits often purchased at office supply stores) is whether they are “valid.” I cannot answer the question in a global fashion. It is certainly possible to have a technically “valid” Will without using an attorney. It is also possible that the document will fail as… Read More »
Should I get an Advance Directive, a Living Will or a Health Care Power of Attorney?
The answer is the first one or the second one and the third one. The problem with answering the question is first and foremost one of terminology. For starters, each state calls these legal documents by different names. For instance, Maryland has an Advance Directive, Virginia has an Advance Medical Directive and the District… Read More »
Safekeeping Your Last Will & Testament: 5 Recommendations
The result in most circumstances is that if your loved ones can only find a copy of your Will, you will likely die intestate. The laws of Maryland will decide what happens to your property, not you. (See The 5 Most Important Reasons to Have a Will). The time, effort and money spent with… Read More »
Power of Attorney: Why Should I Give My Agent the Power to Make Gifts?
The idea behind a Durable General Power of Attorney (POA) is to appoint someone (your agent) who can manage your financial affairs if you (the principal) are unable to do so. The overwhelming majority of the language in the document describes the various things that your agent can do. Most POAs (including mine) contain… Read More »
Get Your Advance Directive: Don’t Be A Headline
In giving estate planning seminars, I am always trying to impress upon my audience the importance of planning while young and healthy. One of many reasons to plan sooner rather than later is to avoid being the subject of a news story like the one ran by the Associated Press on October 31, 2011:… Read More »
Estate as Beneficiary of Life Insurance, IRA or 401k: Bad Idea
The last place you want your life insurance, retirement account, or pay-on-death (POD) account to go upon your death is to your Estate. Thus, do not name your “Estate” as the beneficiary on the designation form provided by your insurer, broker, or financial institution. However, even if you don’t make this mistake on the… Read More »
Domestic Partnerships: How to Avoid Costly Inheritance Taxes on the Family Home
In this modern era, families come in all shapes in sizes. It has become fairly common for same sex couples to buy a home and raise children. Then there are opposite sex couples who share their lives, including buying a house together, but forego the formalities of marriage. In 2009 the Maryland legislature enacted… Read More »